A couple of hours' gallop from the Great Wall at Badaling is a spectacle not seen in this part of communist China for many a decade, if ever.

On a verdant field surrounded by mist-shrouded mountains, a team of horsemen elegantly decked out in helmets, breeches and boots, and armed with wooden mallets are practising that most socially exclusive of colonial sports: polo.

The sight of the riders swinging hard, turning sharply and charging their mounts after the ball is more familiar in an English country club, an emir's stables or the grounds of a wealthy landowner in Argentina or Australia.

But a Beijing businessman is determined it should become just as common for a new generation of Chinese rich, who now have the financial clout, the leisure time and the confidence to take on the world's elite at their own game.

Xia Yang, an architect and property entrepreneur, is the founder of the Beijing Sunny Times Polo Club, which he describes as the only establishment of its type in mainland China.

Although the 39-year-old never heard of polo while he was growing up during the cultural revolution, his long-time love of horses and his recent business success have made him an evangelist for "the sport of kings".

Since 2004, he has taken up polo with a passion, ploughing 12m yuan (£800,000) into a stable, a clubhouse and 26 thoroughbred horses. To make up for inexperience, he has flown in Singapore's national team coach to train his team. This month, they will play a side from Australia in the first game of the year, only their second match to date.

"Our priority is not to win or lose, but to let people overseas know about polo here and to raise the sport's profile in China," he said. "The Chinese economy is developing very fast. Many people now have the financial means to play polo. They just don't know about it."

China's economic progress is evident in changing sporting tastes. Twenty-five years of double-digit growth have created a middle class bigger than the population of Britain, and a considerable number of very rich. The Chinese Academy of Social Sciences says there are 10,000 people worth more than 80m yuan. And they like to play. Ten years ago, China had only 20 golf courses. Today, there are more than 200 clubs, including the exclusive Pine Valley golf resort not far from Mr Xia's polo club. In the winter, the nearby mountains host tens of thousands of skiers. The number of pistes has risen from zero to more than 200 in a decade. More than 5 million people could take to the slopes this year. It is a similar story in other sports associated with wealth. Since 2003, Shanghai has opened China's first F1 racing circuit and started work on a marina.

Polo is far less well known. Mr Xia's club, which is built on his own land, has only 20 members, but he says it includes the head of the state oil firm, Sinopec, and the head of the company which built the trains on the new Tibet railway. But he insists he is not being elitist.

"Polo is not about money, it is about being a gentleman," he said. "I hope that through polo I can meet influential people in other countries. China has many resources and many business opportunities. And I have a lot of friends."

Like many of China's entrepreneurs, Mr Xia has a remarkable rags-to-riches story. When he left college in 1990, his work unit paid him 72 yuan a month. He lived in a 30 sq metre flat and rode to work on a bicycle. Today, he does not want to divulge his income, but he owns the club, runs several businesses and drives a BMW 7 series car.

"The way I have prospered is a reflection of China's economic history," he said. "It has all happened in the past decade. It was as if a huge energy that had built up over previous years was suddenly unleashed."

Although the clubhouse is a large building with four-poster beds and giant fireplaces decorated with swords, it is apparent that a larger part of Mr Xia's fortune has been spent on the horses - all thoroughbreds reared in China from Arabian, English or Russian stock. The stables are part of the house. "I designed it that way so that I could go and see my horses in my pyjamas."

Mr Xia and his friends wanted to start a horse-racing club, but the government blocked plans for fear of encouraging gambling. He then tried showjumping, but considered it dull.

Although it was popular in the colonial era, polo originated in China, Mr Xia claimed. Even after the communists took over in 1949, he said, the game was included in national sports tournaments until at least 1959. Its demise was hastened by the cultural revolution.

Most of the club's players are former jockeys and stable boys, and are paid about 1,000 yuan a month. Many hail from Inner Mongolia, Sichuan and other parts of China famous for horsemanship.

Although they have bunks inside the stables, Tie Fu, a Mongolian player, sleeps in a tent next to the paddock because he wants to be near to the horses. "It is a real man's sport. It has the elegance of golf and the intensity of football," said the 21-year-old.

If a national team is ever formed, Mr Xia is likely to pick it. Last year, the government granted him a senior post in the Chinese Equestrian Association. He hopes to take a team to Britain, Germany or the US.

"My dream is that Chinese polo can go out into the world," he said. "I really hope that one day I will have the opportunity to play against Prince Charles and the Sultan of Brunei."